June 13, 1940
Liverpool Football Club are first in the field with their balance sheet for the first of the wartime seasons – and it indicates that, from a financial point of view, the campaign was far from good.
The Reds, for the year ending May 6, 1940, showed a loss of £6,759, and for the first time for seasons the directors feel they cannot recommend the payment of a dividend.
The club has an overdraft at the bank of £21,124 as against £13,064 last year, and there is a balance of £11,171 carried forward on the profit and loss account. The overdraft is secured by a charge of the Company’s properties and the personal guarantee of the directors.
On the profit and loss account it is revealed that gate receipts fell to £5,703 as compared with £38,712 in 1939. Receipts from away matches were £2,159 compared with £3,500, but £2,216 was paid to visiting clubs as against £5,097.
The club received nothing from boxing promotions but the Swedish tour brought in £60, cup-ties £203, and Lancashire cup-ties £252.
On the expenditure side players’ wages, bonuses and transfer fees took £4,644, as compared with £11,194 last year, and travelling expenses were cut down from £3,064 to £947.
Rates, insurance and income tax took £1,535 as against £2,454 in 1939. Ground expenses and groundsmen’s wages were £1,187, and salaries, office expenses, telephone and stationery, £1,535.
The directors retiring by rotation, are Messrs. William McConnell, S. Ronnie Williams and George Richards, J.P. and as no other nominations have been received they will be re-elected.
The annual meeting of the shareholders take place on Friday, June 21.
(Evening Express: June 13, 1940)